Rocket Companies Sees Unusually Large Options Volume (NYSE:RKT)

Rocket Companies, Inc. (NYSE:RKTGet Rating) saw some unusual options trading activity on Monday. Traders bought 26,778 call options on the company. This is an increase of 129% compared to the typical daily volume of 11,704 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barclays upped their price objective on shares of Rocket Companies from $4.50 to $6.00 in a research note on Friday. Credit Suisse Group lowered shares of Rocket Companies from a “neutral” rating to an “underperform” rating and set a $7.00 target price on the stock. in a research note on Monday. JPMorgan Chase & Co. cut their target price on shares of Rocket Companies from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 18th. Morgan Stanley cut their target price on shares of Rocket Companies from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Friday, November 4th. Finally, Wells Fargo & Company increased their target price on shares of Rocket Companies from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 6th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.96.

Rocket Companies Stock Up 1.7 %

Rocket Companies stock opened at $7.60 on Tuesday. Rocket Companies has a 1-year low of $5.97 and a 1-year high of $14.53. The firm has a market capitalization of $14.98 billion, a price-to-earnings ratio of 9.74 and a beta of 1.84. The firm’s fifty day moving average price is $7.57 and its two-hundred day moving average price is $7.94. The company has a current ratio of 11.69, a quick ratio of 11.69 and a debt-to-equity ratio of 1.09.

Rocket Companies (NYSE:RKTGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.09 billion. Rocket Companies had a net margin of 1.41% and a return on equity of 5.21%. On average, equities research analysts predict that Rocket Companies will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jay Farner acquired 32,100 shares of Rocket Companies stock in a transaction dated Friday, October 21st. The shares were bought at an average cost of $6.23 per share, with a total value of $199,983.00. Following the purchase, the chief executive officer now owns 4,892,907 shares in the company, valued at approximately $30,482,810.61. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have bought 669,700 shares of company stock valued at $4,733,209. 94.01% of the stock is currently owned by insiders.

Institutional Trading of Rocket Companies

Institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Rocket Companies by 19.2% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,094 shares of the company’s stock valued at $155,000 after purchasing an additional 3,405 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Rocket Companies by 10.2% during the second quarter. Global Retirement Partners LLC now owns 59,297 shares of the company’s stock worth $436,000 after buying an additional 5,500 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Rocket Companies by 2.1% during the second quarter. Victory Capital Management Inc. now owns 409,289 shares of the company’s stock worth $3,012,000 after buying an additional 8,404 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Rocket Companies by 321.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,803 shares of the company’s stock worth $146,000 after buying an additional 15,103 shares during the last quarter. Finally, Cranbrook Wealth Management LLC purchased a new stake in Rocket Companies during the third quarter worth about $63,000. Hedge funds and other institutional investors own 3.99% of the company’s stock.

About Rocket Companies

(Get Rating)

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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